09:24     SHENZHEN INT'L<00152> - Announcement                                

    The Stock Exchange of Hong Kong Limited takes no responsibility for       
    the contents of this announcement, makes no representation as to its      
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon        
    the whole or part of the contents of this announcement.                   
                                                                              
                                                                              
    SHENZHEN INTERNATIONAL HOLDINGS LIMITED                                   
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 152)                                                         
    (the `Company')                                                           
                                                                              
                                                                              
    Deferral of despatch of circular                                          
    in relation to                                                            
    Major Transaction                                                         
    Proposed acquisition of Wuhuang Expressway                                
                                                                              
    Despatch of the circular to the SZ International Shareholders in          
    respect of the Major Transaction will be deferred pending issuance of     
    an accountants' report to be contained in the circular (the               
    `Accountants' Report') by the reporting accountants of Jade Emperor.      
    As it is expected that the Accountants' Report will be issued on or       
    before 18 April 2005, it is also expected that the circular of the        
    Company will be despatched to the SZ International Shareholders on or     
    before 18 April 2005.                                                     
                                                                              
    Reference is made to the joint announcement made by the Company with      
    SZ Expressway dated 22 March 2005 (`Joint Announcement') in respect       
    of the proposed acquisition of Wuhuang Expressway (`Major                 
    Transaction'). Unless otherwise defined herein, terms used herein         
    shall have the same meanings as defined in the Joint Announcement.        
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the Company is required      
    to, among other things, despatch a circular in respect of the Major       
    Transaction (the `Circular') to the SZ International Shareholders         
    within 21 days after the publication of the Joint Announcement, being     
    on or before 12 April 2005.                                               
                                                                              
    The despatch of the Circular to the SZ International Shareholders         
    will be deferred pending issuance of the Accountants' Report to be        
    contained in the Circular by the reporting accountants of Jade            
    Emperor. As it is expected that the Accountants' Report will be           
    issued on or before 18 April 2005, it is also expected that the           
    Circular will be despatched to the SZ International Shareholders on       
    or before 18 April 2005.                                                  
                                                                              
    As at the date of this announcement, the board of directors of the        
    Company consists of Messrs. Li Hei Hu, Chen Chao, Li Jing Qi, Qiao        
    Gang and Liu Jun as executive directors, Mr. To Chi Keung, Simon as       
    non-executive director and Messrs. Leung Ming Yuen, Simon, Ding Xun       
    and Nip Yun Wing as independent non-executive directors.                  
                                                                              
                                                                              
    By Order of the Board                                                     
    Shenzhen International Holdings Limited                                   
    Tse Yat Hong                                                              
    Company Secretary                                                         
                                                                              
    Hong Kong, 12 April 2005